IndusInd Bank's Q4 Net Advances Decline 5.2% QoQ Amid Derivatives Portfolio Impact

IndusInd Bank Ltd.’s net advances fell 5.2% on quarter to ₹3.48 trillion as of March 31, according to provisional data released Friday. On a year-on-year basis, advances rose 1.4%.

The quarterly decline was driven by a 15.1% fall in corporate loans, which also dropped 4.9% on year. Consumer loans, however, rose 3.4% sequentially and 6.3% annually.

Total deposits inched up 0.4% on quarter and 6.8% on year to ₹4.11 trillion. Within that, retail and small business deposits slipped to ₹1.85 trillion from ₹1.89 trillion the previous quarter. The current account and savings account ratio declined to 32.8% from 34.9% sequentially.

The lender's liquidity coverage ratio stood at 136.2% as of Mar. 31.

The Reserve Bank of India last month said the bank remained well-capitalised and financially sound, after IndusInd Bank disclosed accounting inconsistencies in its derivatives portfolio that would dent net worth by around 2.4%.